Editor's Comments

Richard Bowser's introduction from July 2013

The current avalanche of relatively positive market news, economic and housing market data along with upwardly revised forecasts for the UK which have been regularly hitting my inbox over the last few weeks seems quite remarkable given the tumultuous events of the last six years.

Following Andy Murray's historic win at Wimbledon and the summer heat wave which ended the longest 'winter' that I can personally recall there is a clearly discernable positive mood swing in progress, which many increasingly believe will continue into the autumn and beyond.

After seven consecutive monthly rises in UK residential asking prices from property vendors, Rightmove have just revised up their forecasts for 2013 and now anticipate a doubling in achieved average sold prices for UK residential property to 4% during this year.

As we have commented here in recent months lenders are responding to various government initiatives with looser criteria for borrowers and although there has been a rise in swap market rates led by some nervousness in the US financial markets, the outlook for potential interest rates here still appears benign for a few more years. As such all those currently benefiting from healthy rental cashflow due to their mortgages being on low SVRs will be feeling more confident about the outlook for the next few years.